Suitability Review Call Program
Athene maintains a suitability program to meet regulatory requirements. Our program is in compliance with the 2010 NAIC Suitability in Annuity Transactions Model Regulation, the 2020 NAIC Suitability in Annuity Transaction Model Regulation and state specific suitability regulations. This program is applicable in all states where the Company operates.
To ensure that all annuity sales are suitable, Athene has a long-standing program to call certain customers to discuss their annuity purchase. This program allows us to have a brief conversation with our customers to be certain that key aspects of the annuity are understood. This call must be completed prior to issuing an Athene annuity.
Who do we contact?
Athene calls all customers who meet one or more of the following criteria:
- The applicant is age 75 and over
- The applicant has applied for an internal replacement (an application funded by an existing Athene annuity contract or life insurance policy)
- Applications identified by Compliance as needing additional information
What will we discuss?
The features we will discuss include, but are not limited to, the following:
- The Withdrawal Charge Period for the product being purchased
- Free withdrawal provision
- Required minimum distribution (if applicable)
- Other features and charges depending on the product purchased
We’ve created a document for you to leave behind with your clients after soliciting an application so that they are aware that Athene may be contacting them and why. You can also find additional information about this program on Athene Connect.